3 cryptocurrencies to avoid trading for the week of March 13, 2023

Since the early days of the cryptocurrency industry, when Bitcoin (BTC) was the only digital asset in existence, the sector has exploded with tens of thousands of cryptocurrencies of all kinds, but not all are equally worth dealing with, at least for now.

In this context, Finbold has analyzed the crypto market, observing the score awarded by recognized platforms such as Weiss Crypto Ratings, assets’ historical performance, and recent developments, to arrive at the list of cryptos that crypto traders and investors should avoid handling, at least not this week.

V.Systems (VSYS)

A blockchain infrastructure provider with a focus on database and cloud services, V.Systems (VSYS) promises to facilitate high-performance minting, transaction processing, and smart contract capabilities, but the technology and adoption are still very weak, giving it a low ‘E-‘ score on Weiss Crypto Ratings.

At press time, VSYS ranks 915th in terms of market capitalization, although it is recording daily and monthly gains of 5.06% and 52.32%, respectively, possibly due to the recent rally in the market. On the other hand, it has lost 25.05% on its weekly chart, which is currently trading at the price of $0.002101.

Ultrain (UGAS)

Another crypto to stay away from this week is the UGAS token of the Ultrain ecosystem, which is building a sustainable commercial ecosystem that enables various industrial applications that use innovations in cryptography to try to solve scalability and performance problems for others blockchain platforms.

Unfortunately, the technology and adoption rate is still very low (only 4,000 followers on the community Twitter page) and the market capitalization places it 1,854th among all cryptos despite a reasonable momentum in the market, which has seen the price. gaining 14.65% for the week and 83.49% over the previous 30 days, while losing 14.03% in the last day and trading at $0.001534.

Tokenomy (TEN)

With the aim of promoting financial inclusion and giving innovators access to alternative funding networks through its token exchange and crowdfunding platform, Tokenomy (TEN) has ambitious goals, but so far its slow adoption has given it a very low score among all actively traded cryptos, although the team has recently advertised for several technology roles.

The 998th crypto by market cap is currently trading at a price of $0.02167, up 3.17% in the last 24 hours, but is still down 11.46% over the last week and 19.82 % over the past 30 days, according to the latest data obtained by Finbold on March 11.

Conclusion

While these cryptos should be avoided for now, the recent experiences of changing sentiment and situation in the cryptocurrency market continue to remind us that things can change dramatically very quickly, which is why it is imperative to keep an eye out and do due diligence every digital asset before investing in it.

Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.